Without looking at your return it is impossible to know why. Sounds like you must have had a lot of interest you added. This is taxable income and could raise the amount of tax you owe, therefore reducing your refund. These are the most common things that effect your refund or balance due: Change in Filing Status; Change in dependents claimed; No longer have a child, under age 17, to claim the Child Tax Credit The amount of federal and/or state withholding; Income based credits, such as the Earned Income credit; Tax bracket changes Here is a TurboTax Help Article that will give you more information..

Question

I added my 1099-INT and my refund went down by almost $400, why is that.

Forum|Forum|6 years ago
February 23, 2020
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CatinaT1

Without looking at your return it is impossible to know why. Sounds like you must have had a lot of interest you added. This is taxable income and could raise the amount of tax you owe, therefore reducing your refund.

These are the most common things that effect your refund or balance due: